Who Tried to Nip It In the Bud, and Who Let it Bloom?

Here’s a video giving us a timeline of what happened when in the story of the Fannie Mae and Freddie Mac collapse. Take special note of who was for regulation and who was against it.

While conservatives do indeed want more free market, they also recognize when things need the regulating hand of government. Obama said in his inaugural address, "[The market’s] power to generate wealth and expand freedom is unmatched, but this crisis has reminded us that without a watchful eye, the market can spin out of control…." But his party kept its watchful eyes shut when it benefited them politically.